Underwriter – Employment Practices Liability & Safeguard

Job Description

General

Job Title: Underwriter –  Employment Practices Liability & Safeguard

Division: Specialty Risks

Key Relationships:       Brokers, underwriters, claims, wordings, insureds, external clients and suppliers

Job Summary:              To underwrite a London Market Wholesale Executive Risk (LMWER) account within Specialty Risks and provide counsel and advice on underwriting related issues. Provide technical expertise in this business area and maintain and improve market reputation of the [Employer hidden — sign up to reveal] brand.

Key Responsibilities:

Underwriting

• Develop and underwrite a profitable portfolio of LMWER business as part of Specialty Risks.
• Structure tailor-made solutions by considering the team underwriting parameters and underwriting policy and using underwriting knowledge and experience to win new business and retain existing.
• Manage innovation and development of non-insurance service offerings to insureds and others.
• Monitor premiums, costs and claims ratios per contract and take corrective measures if necessary to ensure long term profitability at account level.
• Evaluate appropriate risk premium by considering the risk costs, reinsurance cessions, capital exposure as well as the underwriting and general administration costs to ensure profitability, using rating models as applicable.
• Monitor peer underwriters in their daily work to ensure profitability as well as efficient and cost effective administration of the LMWER
• Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and Specialty Risks.
• Comply with [Employer hidden — sign up to reveal]'s underwriting control standards for business written through Lloyd's, [Employer hidden — sign up to reveal]’s subsidiaries or internal MGAs.
• Develop a good working relationship with the claims managers on this class of business.

Client Management

• Advise, assist and service clients on insurance and risk matters to ensure clients’ satisfaction.
• Foster positive relationships with clients to get a mutual understanding of both their and [Employer hidden — sign up to reveal]’s needs.
• Maintenance of good business relationships with brokers.
• Maintain awareness of overall [Employer hidden — sign up to reveal] product range and take advantages of opportunities to introduce other [Employer hidden — sign up to reveal] products to clients.

General

• Leverage networking opportunities within the business to develop standardised underwriting policy and best practice within [Employer hidden — sign up to reveal].
• Develop best practice and disseminate business and class knowledge within LMWER and Specialty Risks.
• Work with peers within the LMWER and Specialty Risks to maximise business opportunities and profitability within the department. This will include but not be limited to sharing market information, marketing sources and cross selling opportunities.
• Share and gather knowledge within the [Employer hidden — sign up to reveal] Group to ensure dissemination of best practice and maximise business opportunities and profitability across the Group.
• Production of presentations and marketing literature as required.
• Production of business plans/research documents for the LMWER account as required.

It is important that within all your interactions both internally and externally you adhere to [Employer hidden — sign up to reveal]’s core values – Being Bold, Striving for Better, and Doing the Right Thing – as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect [Employer hidden — sign up to reveal] employees to:

• Comply with [Employer hidden — sign up to reveal] procedures, policies and regulations including the code of conduct, which incorporates the PRA and FCA Conduct.
• Undertake training on [Employer hidden — sign up to reveal] policies and procedures as delivered by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
• Display business ethics that uphold the interests of all our customers.
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, [Employer hidden — sign up to reveal]’s underwriting control standards, [Employer hidden — sign up to reveal]’s claims control standards, other [Employer hidden — sign up to reveal] standards and customer relationship management.
• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any [Employer hidden — sign up to reveal] committees or working groups.

Personal Specification:

Skills & Abilities

• Proficient underwriting skills
• Accurate and numerate
• Strong analytical skills with attention to detail
• Able to communicate effectively with others, both verbally and in writing
• Ability to manage time, meet deadlines and prioritise
• Motivational skills

Knowledge & Experience

• General commercial and financial knowledge
• Experience in insurance industry
• Experience of Executive Risk underwriting or broking
• Thorough knowledge of underwriting policy, philosophy and practice
• Advanced knowledge of underwriting processes and systems
• Client service experience

Aptitude & Disposition

• Result focused, self-motivated, flexible and enthusiastic
• Professional approach to interact successfully with managers/colleagues/external suppliers
• Team worker as well as able to work on own initiative
• Customer focused, with a strong ethic of service and fairness to the customer

Competencies

• Achievement drive
• Analytical thinking
• Strategic thinking
• Service focus
• Team working
• Conceptual thinking
• Forward thinking

Who We Are:

[Employer hidden — sign up to reveal] is a specialist insurance company with over 30 years’ experience helping people, communities and businesses to manage risk all around the world. Our mission is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable businesses to thrive. Our clients want to live and work freely and fully, knowing they are benefitting from the most advanced thinking in the insurance market.  Our goal is to become the highest performing sustainable specialist insurer.

Our products are wide ranging, from cyber & tech insurance to marine, healthcare, financial institutions and contingency; covering risks such as the weather, film production or protection from deadly weapons.

Our Culture

We have a wonderful mix of cultures, experiences, and backgrounds at [Employer hidden — sign up to reveal] with over 2,000 of us working around the world. Employee’s diversity, experience and passion allow us to keep innovating and moving forward, delivering the best. We are proud of our family-feel culture at [Employer hidden — sign up to reveal] that empowers our staff to work from when and where they want, in an adult environment that is big on collaboration, diversity of thought and personal accountability. Our three core values inspire the way we work and how we treat our people and customers.

• Be bold
• Strive for better
• Do the right thing

Upholding these values every day has enabled us to become an innovative and responsive organization in touch with the changing world around us – our ambitious inclusion & diversity and sustainability targets are testament to this.

We are a flexible and innovative employer offering a friendly, collaborative, and inclusive working environment. We actively encourage and expect applications from all backgrounds. Our commitment to fostering a supportive and dynamic workplace ensures that every employee can thrive and contribute to our collective success.

Explore a variety of networks to assist with professional and/or personal development. Our Employee Networks include:

• [Employer hidden] RACE - Including, understanding and celebrating People of Colour
• [Employer hidden] SHE - Successful, High potential, Empowered women in insurance
• [Employer hidden] Proud - Our global LGBTQ+ community
• [Employer hidden] Wellbeing - Supporting employees with their mental wellbeing
• [Employer hidden] Families - Supporting families and parents-to-be

We encourage internal career progression at [Employer hidden — sign up to reveal], giving you all the tools you need to drive your own career here, such as:

• Internal Pathways (helping you grow into an underwriting role)
• iLearn (our own learning & development platform)
• LinkedIn Learning
• Mentorship program
• External qualification sponsorship
• Continuing education and tuition reimbursement
• Secondment assignments

The Rewards

• The opportunity to connect and build long-lasting professional relationships while advancing your career with a growing, global organization
• Attractive base compensation and discretionary performance related annual bonus
• Private medical insurance coverage for both you and your dependents
• Company paid life assurance and long term disability insurance
• Pension with 10% employer contribution, plus a further matched contribution up to 2.5%
• 25 days of annual leave (prorated for 1st calendar year of employment), plus public holidays, with the ability to flex the religious bank holidays to suit your religious beliefs, subject to approval. Additional annual leave purchase is also available up to a maximum of five additional days per year.
• Up to 2.5 days matched paid leave for volunteering at a charity of your choice and 5 days paid leave to provide or arrange care for a dependent with a long term care need annually
• Up to £550 reimbursement towards home office setup
• Free in-office lunch and monthly lifestyle allowance
• Monthly travel allowance or annual season ticket
• The opportunity to save for, and purchase, shares of [Employer hidden — sign up to reveal] stock
• Six months fully paid parental leave, regardless of how you come to parenthood
• Company paid sabbatical up to 12 weeks after 10 years of continued service
• Support with exam/study leave and fees for relevant qualifications related to furthering education
• Smart working policy and flexible working culture, trusting our employees to do what works best for them, their role and the needs of the business

Don’t meet all the requirements? At [Employer hidden — sign up to reveal] we're committed to building a diverse, inclusive, and authentic workplace. If you’re excited about this role but your experience doesn’t perfectly align with every requirement and qualification in the job specification, we encourage you to apply anyway. You might just be the right candidate for this, or one of our other roles.